From its majestic mountains to its sandy beaches, Northern Virginia has no shortage of amazing sights. With so much to do and explore, it is no secret why NOVA is home to more than two million residents. If you are considering moving to a new home in Northern Virginia, you will want to choose your […]
Veterans Administration Military Home Loans in 2018
Military Home Loans The year 2018 means favorable changes to the rules on VA military home loans. Before describing what they are and what they mean to you, make sure you understand what a military home loan is. A military home loan, also known as a VA home loan, is a very popular military benefit. […]
The Ultimate First Time Home Buyer Loan Guide
Becoming a homeowner is an American dream. However, the process can be nerve-wracking, especially for the first time home buyer. As one of the biggest financial decisions you will ever make, it is important to prepare yourself for every aspect to help make the experience as positive as possible. This comprehensive step-by-step guide is designed […]
How to Qualify for Military Home Loans
A military home loan, also known as a VA home loan, is a home mortgage loan available to eligible American veterans and their surviving spouses. The VA home loan is typically issued by a qualified lender and partly guaranteed by the U.S. Department of Veterans Affairs (VA). What Are the Benefits of Military Home Loans […]
What Does It Mean to Be FHA Approved?
Federal Housing Administration (FHA) loans are insured by the government to increase the availability of affordable housing in the U.S. FHA loans are often recommended for borrowers with low to moderate income who are unable to make large down payments. Borrowers with lower credit scores and those who cannot get approved for private mortgage insurance […]
HELOC vs. Bridge Loan: Short Term Financing
Short term financing will help you cover your immediate short term financial obligations. People commonly use short term financing when buying a new home. They need the cash from selling the existing home to buy the new home. Short term financing allows you to meet your financial obligations on two mortgages along with the other […]
How Do I Fund My Major Home Improvement Project?
Major home improvement projects can really put a dent in your wallet. To avoid the financial stress associated with repairs and upgrades, many homeowners turn to home improvement loans. If you lack the cash, a home improvement loan allows you to make the renovations you want by borrowing the funds to do it. Like any […]
Should You Apply for A Debt Consolidation Loan?
What Is A Debt Consolidation Loan? A debt consolidation loan can be one of the best ways to pay off your outstanding debt. It allows you to consolidate multiple unsecured debt obligations into a single new loan, called a “debt consolidation loan”. This type of loan is designed to pay off your existing creditors. Once […]
Percentage of Income That Should Go Towards Your Mortgage
As a general rule of thumb, your monthly housing payment should not exceed 28 percent of your income before taxes. When determining what percentage of income should go to mortgage, a mortgage broker will typically follow the 28/36 Rule. The Rule states that a household should not spend more than 28 percent of its gross […]